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Gold Coast Ground Breaking
Jameson Development breaks ground on Gold Coast tower at 50 East Chestnut
The groundbreaking for the 39-story luxury condominium high-rise at 50 East Chestnut signifies the beginning of a new Gold Coast landmark, according to Jameson Development, LLC. “With only one home per floor, luxury condominium buyers at this posh 34-unit Gold Coast development will reside in their own private world just a block west of Michigan Avenue’s ‘Magnificent Mile,’” said developer Charles Huzenis, president of Jameson Development, LLC.
The groundbreaking for 50 East Chestnut was held September 8th on the 11,000-square-foot site located at the corner of Rush and Chestnut Streets. “The architectural firm of Solomon Cordwell Buenz & Associates designed the handsome 50 East Chestnut high-rise with a precast concrete façade faced with granite and limestone on the first four floors,” said Harry Huzenis, a partner in Jameson Development.
A step above
“The rich granite and limestone base is similar to the high-quality buildings erected on the Gold Coast at the turn of the century,” said project architect Martin Wolf of Solomon Cordwell Buenz. “50 East Chestnut is a step above other new-construction condominium developments now underway in Chicago,” Wolf said. “The building will have spacious residences with abundant terraces and fabulous views in a great location.”
Excavation, caissons and foundation work for the building are scheduled to be competed by March of 2006, said Steve Mandell, partner and director of acquisitions for Jameson Development. “Our construction schedule calls for the four-level parking garage to be completed by May of 2006, followed by the construction of the condominiums at a rate of about four floors per month,” according to Sarah Morie, project manager for is James McHugh Construction Co., the general contractor.
Completion scheduled November 2007
Construction funding is being provided by Corus Bank. 50 East Chestnut is scheduled to be topped out in December, 2006, Morie said. First residential units are slated for occupancy in May of 2007, and the building is scheduled for completion in November of 2007, she said.
Each luxury residence at 50 East Chestnut encompasses an entire floor, offering 3,579 to 3,937 square feet of elegant living space in the boutique development. “With only 34 residences, this is a very intimate building where residents will enjoy plenty of privacy unlike many of the new larger high-rises currently on the market,” Charles Huzenis said. Each of the full-floor residences offers a private elevator foyer, two outdoor terraces, and elegantly finished living spaces geared to gracious entertainment.
Like a single-family home
Contributing to the privacy factor, each condominium has floor-to-ceiling windows with 270 degree views, three bedrooms, a library and family/media room as well as large living and dining rooms and kitchens. “It’s like living in a single-family home,” Harry Huzenis said. “Typically, luxury condominium buyers who seek this much space are often forced to try and purchase two adjacent units. This becomes both difficult and costly.”
The 50 East Chestnut development also has 51 individually deeded parking spaces available for sale which will be for the exclusive use of the condominium owners.
Thirty percent sold
Base prices at 50 East Chestnut range from $2,326,900 to $3,135,900. “Thirty percent of the residences at 50 East Chestnut have been sold, and many of the buyers are empty-nester couples selling big homes in the suburbs,” Charles Huzenis said.
All of the units have 9½-foot to 11-foot ceiling heights, kitchens with granite finishes as well as hardwood flooring, Snaidero and Brookhaven by Woodmode cabinetry plus top-of-the-line appliances and a large laundry area with swab sink. “The master baths are extraordinary,” said Ellen Nemirow, director of client services for Jameson Development. “They have an oversized shower with glass doors that see through the marble tub that extends out beyond the building’s wall to create a bay window area.”
Designed for the discerning buyer
The condominiums at 50 East Chestnut also offer a host of amenities including private garden terrace with dog run, top floor fitness center with incredible views, 24-hour doorman, personalized concierge services and a self-park garage.
“Jameson Development asked staff architects Martin Wolf and Devon Patterson of Solomon Cordwell Buenz to create one-of-a-kind condominium residences designed for buyers seeking the privacy of owning an entire floor accessed by a private elevator,” noted Mandell. One sprawling 3,904-square-foot residence features two 20-foot terraces and a private elevator entry, which leads into a large 16-by-11-foot foyer. The foyer opens directly into a larger grand foyer measuring 8½ by 14 feet. Straight ahead the grand foyer leads into the library. To the right of the foyer is a 17½-by-16½-foot master bedroom, which has access to one of the two outdoor terraces.
Luxury, privacy and exclusivity
The master bedroom suite features two large walk-in closets and a stunning master bath. To the right of the foyer is a large secondary bedroom measuring 12 by 13 feet. The bedroom leads to a large living room (26½ by 14 2/3 feet), which also has access to one of the terraces. The living room follows the circular floor plan leading to a large 19-by-11½-foot library.
To the left of the foyer is a hallway leading to the kitchen with top of the line appliances, center work island and a butler’s pantry. The kitchen leads to the outdoor terrace. The kitchen also leads to another secondary bedroom measuring 11 1/3 by 12½ feet. “One of the best things about these floor plans is that two of the bedrooms are on opposite ends of the residence creating private spaces,” Charles Huzenis said.
“Luxury, privacy and exclusivity are incorporated into the planning and design of 50 East Chestnut,” said Mandell. “Everything in the building and common areas, as well as the units themselves has been carefully thought out with the discerning buyer’s tastes in mind,” said Mandell. “We expect people who enjoy living near the lake and savor the excitement of living in the city to purchase at 50 East Chestnut. These are people who seek all of the amenities that Michigan Avenue and the Rush Street area have to offer,” he said.
All that Chicago has to offer
“50 East Chestnut is one of the last premiere sites left in the city that is close to the Magnificent Mile and the lakefront,” said Mandell. “If you look around, there just aren’t that many sites that are close to all of the premiere amenities that Chicago has to offer,” said Harry Huzenis.
Residents, retailers, shoppers and plenty of tourists enjoy all of the luxuries that life has to offer in the Gold Coast. Some of the attractions of the area include spectacular views, world renowned architecture, the city’s finest shopping, cultural activities and an assortment of luxury hotels and high-rise condominiums.
The neighborhood around Michigan Avenue also has a whopping 436 restaurants and 460 retail stores and shops within the service area. Nearby shopping treasures include Bloomingdale's, Neiman Marcus and Nordstrom. Well-known names in fine dining such as Spiaggia, Bistro 110, Le Colonial, Gibson’s and more are found at almost every corner. Add the Gold Coast’s plethora of shops, specialty boutiques, restaurants and hotels along Oak, Rush and State and you become part of Chicago’s most exclusive neighborhood.
For more information on 50 East Chestnut, please call 312-944-5050. or visit the website at www.50eastchestnut.com.